Megabuyte has issued a Company Brief, highlighting the growing demand for process and data automation services, which delivers increased auditability, and financial clients using Xceptor as an enabler to capture data for onward transmission to RPAs.

Megabuyte’s view is as that – “There is a growing demand to replace manual back office tasks, which is driving substantial opportunities for data and process automation worldwide. Key to Xceptor’s traction within financial services has been its strong domain knowledge, growing referenceability, the ability to drive incremental revenues within existing customers, and its breadth of solution offerings, covering the capturing, management and distribution of data. Alongside this, regulatory changes are driving large organisations to improve the auditability and traceability of business, which, in turn, is providing increased opportunities for Xceptor’s platform to provide value. The company’s target market does, however, come with the challenge of long sales cycles, although this doesn’t seem to have been a problem so far.”

“It is worth highlighting the performance of its AIM-listed peer Blue Prism, which we see as a genuine market disrupter in the robotic process automation (RPA) market, having seized on its early-mover advantage – in its current fiscal year the company is expected to more than double revenues to £20m albeit at high losses. In contrast to Xceptor, Blue Prism doesn’t specialise in any particular industry and runs a channel only route to market. As such, it is clear that Xceptor is only scratching the surface of the available market opportunity, with the potential to expand beyond its current financial services focus through leveraging partners.”

“Interestingly, whilst Xceptor encompasses a breadth of functionality purported by the likes of Blue Prism and Automation Anywhere, it does not compete directly with the RPA vendors, rather being used by clients as an enabler to capture and transform data for onward transmission to an RPA robot. Looking further down the line, management also identified AI and Blockchain as opportunities.”

Andrew Kouloumbrides, Chief Executive Officer of Xceptor commented, “I would like to thank Megabuyte for their insightful analysis and am particularly encouraged that they see a growing demand for our services.”

The Xceptor platform is unique, capturing and enriching data in any format, from any source, which enables process automation to be applied across multiple data integration points. Clients benefit from increased compliance by removing human error, reduced costs through increased efficiency, and enhanced control by operational users.